Distillate Capital Partners LLC Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Distillate Capital Partners LLC increased its stake in PACCAR Inc (NASDAQ:PCAR) by 135,837.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 187,594 shares of the company’s stock after acquiring an additional 187,456 shares during the period. PACCAR comprises approximately 1.0% of Distillate Capital Partners LLC’s portfolio, making the stock its 28th largest position. Distillate Capital Partners LLC’s holdings in PACCAR were worth $19,311,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PCAR. YHB Investment Advisors Inc. purchased a new position in shares of PACCAR in the 1st quarter worth about $27,000. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR during the 1st quarter valued at about $27,000. Riverview Trust Co bought a new stake in PACCAR in the 1st quarter worth approximately $29,000. Meeder Asset Management Inc. boosted its stake in PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after buying an additional 205 shares in the last quarter. Finally, Rise Advisors LLC bought a new position in PACCAR during the first quarter valued at approximately $31,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $98.79 on Tuesday. The firm has a market capitalization of $51.79 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.48 and a beta of 0.91. The stock has a fifty day moving average of $96.84 and a 200 day moving average of $105.97. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business earned $2.33 earnings per share. As a group, research analysts expect that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.21%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is currently 12.45%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCAR. Raymond James began coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Citigroup reduced their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Truist Financial lowered their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $112.73.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.02% of the company’s stock.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.